Halla Holdings has established a local subsidiary in Istanbul, Turkey, to expand its automotive
aftermarket parts business throughout Europe.
CEO Choi Kyeong-sun of Halla Holdings and CFO Hwang Ju-yeon visited the Istanbul Chamber
of Commerce in Turkey on July 31 to take part in the investor relations ceremony and officially
announce the establishment of Halla Corporation Europe (HCE).
CEO Choi Kyeong-sun said, "We hope to start investing in the automobile distribution sector
and expand into logistics and construction in the future,“ while Turkey's Istanbul Chamber of
Commerce and Industry Chairman Şekib Avdagiç shared high expectancy by saying that the
investment by Halla Group will open a new horizon in the auto parts business.
"This investment will significantly contribute to Turkey's economy and employment," said
Anıl Yücetürk, HCE's corporate chief executive officer, further elaborating that the company
aims to achieve 1.2 trillion won in sales over the next five years.
Halla Holdings will invest $3 million in capital to set up its subsidiary HCE in Istanbul, Turkey,
and actively tap into the auto parts market.
Anıl Yücetürk was appointed as HCE's corporate head and began operation as of August 1
in order to aggressively expand its distribution in Europe, Middle East and Africa.